First Horizon Advisors Inc. Trims Stake in Visa Inc. (NYSE:V)

First Horizon Advisors Inc. reduced its position in shares of Visa Inc. (NYSE:V) by 0.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,468 shares of the credit-card processor’s stock after selling 197 shares during the period. First Horizon Advisors Inc.’s holdings in Visa were worth $7,733,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in V. Elevation Wealth Partners LLC raised its stake in shares of Visa by 3.3% during the fourth quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock valued at $297,000 after acquiring an additional 30 shares during the last quarter. Warther Private Wealth LLC raised its stake in shares of Visa by 1.0% during the fourth quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock valued at $928,000 after acquiring an additional 30 shares during the last quarter. Valmark Advisers Inc. raised its stake in shares of Visa by 0.4% during the fourth quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock valued at $2,292,000 after acquiring an additional 30 shares during the last quarter. Crescent Grove Advisors LLC raised its stake in shares of Visa by 2.2% during the fourth quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock valued at $454,000 after acquiring an additional 31 shares during the last quarter. Finally, Vicus Capital raised its stake in shares of Visa by 3.1% during the fourth quarter. Vicus Capital now owns 1,032 shares of the credit-card processor’s stock valued at $326,000 after acquiring an additional 31 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Up 0.3 %

Shares of Visa stock opened at $349.46 on Tuesday. The company has a market cap of $649.21 billion, a price-to-earnings ratio of 35.23, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97. The company’s 50 day moving average is $329.81 and its 200 day moving average is $303.29. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $357.15. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last issued its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.68%. Visa’s payout ratio is presently 23.79%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on V shares. TD Cowen boosted their price target on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their price target on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Piper Sandler reiterated an “overweight” rating and set a $383.00 price target (up previously from $368.00) on shares of Visa in a research report on Friday, January 31st. Seaport Res Ptn upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $353.96.

Insiders Place Their Bets

In other Visa news, CAO Peter M. Andreski sold 2,332 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.62, for a total value of $815,313.84. Following the transaction, the chief accounting officer now directly owns 4,488 shares in the company, valued at approximately $1,569,094.56. This trade represents a 34.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,885 shares of company stock worth $19,161,447. Company insiders own 0.13% of the company’s stock.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.